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Is AIG going under? What does that 'really' mean?

I currently have auto insurance with AIG, and planned to call them today to set up a Term Life insurancy policy AND switch my Home Owner's Insurance to them... Should I change my mind or is all the talk just "talk"??? How serious is this? Anyone that knows more about this type of stuff, can you give me some guideance before I make a potentially 'bad' move? Thanks!

Public Comments

1. all i know is my dad works for AIG and he seems pretty upset and stressed out at the moment..... is there a future for AIG who knows
2. Keep what you have with them for now. Now is not a good time to switch any insurance to them. For now, keep your home where its at. Take life insurance with the company that has your home. Now is not a good time to change companies. Wait until you see what happens first.
3. They've been downgraded from an a+ to an a. They're still pretty darned strong, financially. I wouldn't hesitate to write insurance with an a rated company. IF they have more problems, they'll end up nonrenewing your auto and homeowners, or they'll stop writing new policies, and if they go under, the life insurance would be transferred to another insurance company in your state. Don't panic. I'd probably choose a new company for the homeowners, and switch the auto on renewal, and pick a different one for the term, also.
4. My dad works for AIG and I know they are working on a loan from the government but its like 40 billion dollar loan! Alot of people are getting laid off from the company. I would leave everything how it is..their stock even sucks it went from 300 to like 3.14 in a couple of days...AIG will go under if they dont get a loan from the government or if someone doesnt buy them. I know they fired their CEO but damage is done now..they were buying all kinds of insurance companies (21st century insurance which my dad worked for before AIG bought them) and now they are broke! Crazy..this economy needs to get back on track!